The first quarter of 2024 was a mixed bag of optimism, caution and resilience in the cryptocurrency market. All in all, the crypto sector saw notable growth and increased investor interest in Q1 against a backdrop of positive macroeconomic trends. Data from PitchBook Data shows that the crypto and blockchain markets secured US$2.52 billion in capital during the first quarter of this year, marking a 25 percent increase from Q4 2023. This surge occurred as the S&P 500 (INDEXSP:.INX) gained 10.2 percent over Q1, the index’s largest first quarter increase since 2019, buoyed in part by expectations of potential interest rate cuts in 2024. Additionally, many major markets, including those in the US, Canada and Australia, posted strong Q1 performances, further supporting investor optimism. With Bitcoin reaching new heights, the arrival of spot Bitcoin exchange-traded funds (ETFs) and a rebound in institutional investment, the crypto industry showcased its growth potential…
